Video Conferencing Market Worth $8.35 Billion, Globally, by 2027 at 9.6% CAGR: Verified Market Research
The robust urbanization which is responsible for the use of video conferencing is driving factor growth. The increased command of high-speed data connectivity among consumers is expected to drive the market economy
Jersey City, N.J., July 21, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Video Conferencing Market by Component(Hardware, Software, Services), by End-Use (Corporate, Education, Healthcare, Government ), by Enterprise (Large Enterprises, Small & Medium Enterprises), by Deployment, Geography". According to Verified Market Research, the Global Video Conferencing Market was valued at USD 4.02 Billion in 2019 and is projected to reach USD 8.35 Billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
The robust urbanization which is responsible for the use of video conferencing is driving factor growth. The increased command of high-speed data connectivity among consumers is expected to drive the market economy. The connectivity that can be considered for professional video conferencing depends on the bandwidth. The higher the bandwidth, the better is the video quality. Most of the standard Video conferencing systems provide up to 2 Mbps of such IP bandwidth, but the maximum bandwidth can be utilized by VC application. The role of major vendors to develop solutions for video conferencing will furnish market growth. On 9TH April, IBM and Cisco had collaborated to aid in remote teaching in over 24,000 schools and staff in over 185,000 charity associations across the UK by granting free access to video conferencing through the use of the Cisco Webex web conferencing tool. The technology provides simple and intuitive features for online collaboration in response to the COVID-19 outbreak. The use of telepresence to bridge the communication gap between individuals is expected to accelerate market growth.
This not only applies to the use of the latest HD audio and video technology, but other factors such as interior design, furnishings, and media technology. Its high availability makes telepresence solutions the robust, safest, and reliable method of transport in the world. The use of 5G, which uses Voice over Internet Protocol (VoIP), will provide lucrative opportunities in the market growth. 5G will boost the network speed twenty times faster than the standard 4G technology. 5G is presenting about innovations in telepresence with holographic conferencing capabilities and Ultra HD video calling, in its infant stage. Also, the 360-Degree video calling is being initiated.The major players in the market are Adobe Inc.; Cisco Systems, Inc.; Logitech International S.A.; and Microsoft Corporation, Array Telepresence Inc., Avaya Inc, Huawei Technologies Co., Ltd, Huawei Technologies Co., Ltd.
Verified Market Research has segmented the Video Conferencing Market on the basis of Component, Deployment, Enterprise, End-Use, and Geography.
Video Conferencing Market by Component
Video Conferencing Market by Deployment
Video Conferencing Market by Enterprise
Small and Medium Enterprises (SMEs)
Video Conferencing Market by End-Use
Government and Defense
Media and Entertainment
Video Conferencing Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Browse Related Reports:
Marketing Automation Software Market by Component (Software, Services), by Industry (Education, Healthcare & Life Sciences, Media & Entertainment, Retail & Consumer Goods, Travel & Hospitality), by Application (Campaign Management, Email Marketing, Lead Nurturing & Lead Scoring, Social Media Marketing, Analytics & Reporting), Geography, Forecast, 2020-2027
Customer Experience Management Market by Analytical Tools (Enterprise feedback management (EFM) software, Speech analytics, Text analytics, Web analytics & content management), by TouchPoint (Stores/ branches, Web Services, Call Centers, Mobile, Social Media Platform, Email), by EndUser (Retail, BFSI, Healthcare, IT & Telecom, Manufacturing, Government, Energy & utilities), Geography, Forecast, 2020-2027
Data Masking Market by Type (Static, Dynamic), by Business Function (Finance, Human Resource (HR), Legal, Marketing and Sales, Operations), by Vertical (Government and Defense, Healthcare and Life Sciences, Media and Entertainment, Retail and Ecommerce, Telecommunications And IT), Geography, Forecast, 2020-2027
Video Wall Market by Product & Service (Video Wall Displays, Installation, Housing, Content Management), by Application (Indoor Advertisement, Outdoor Advertisement, Menu Board Advertisement, Billboard Advertisement), by Vertical (Retail, Corporate, Government, Hospitality, Transportation), Geography, Forecast, 2020-2027
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.